In the face of perpetual SEC scrutiny, CCOs have become vigilant about identifying and properly allocating expenses that typically arise when launching and managing PE funds. The pandemic has upended many of the normal processes associated with managing a PE fund, however, and replaced them with other issues. As sponsors bolster technology to support a prolonged remote workforce and use private jets for important tasks, CCOs are forced to grapple with a new host of questions about which of those new types of expenses can be allocated to funds and investors. Sponsors and investors mostly appear to be taking new and different expenses in stride, in part because overall expenses have generally decreased from last year. This article discusses how expenses have shifted and changed during the pandemic; identifies new types of expenses (e.g., private jets; pandemic-specific insurance coverage; etc.) that fall into a gray area between the fund and its manager; and provides tips for how CCOs can approach allocating new expenses arising from the coronavirus environment. See “Expense Allocation Issues May Place Real Estate Managers in SEC Crosshairs” (Sep. 22, 2020).